The Pot of Gold

By Bailey Compton 24 Nov 2023

 

There’s Gold in them thar’ Strata Schemes.

I spoke, some years ago, at a strata community conference. I noted in that keynote speech that The Strata Schemes Management Act 2015 is great for lawyers and strata managers, but falls well short of creating a liveable community.

Lawyers see strata schemes as a pot of gold. They love the fact that, when dealing with a strata manager or committee, the fees aren’t theirs, so no problem. Moreover, there are plenty of lot owners to bear the burden of litigation.

Two important points:

1 Lawyers thrive on disputes. Resolving disputes quickly is not in their business interests. They sell time to you, and therefore the bigger and longer the dispute, the greater the return.
2 Winning does not always mean a result. You can win in court, but not have a result. For example, you may win a case against a developer who claims liquidation, leaving you with no way of enforcing the orders from a court. Lawyers win orders, not results.

Sadly, owners corporations are suffering across the Nation at the hands of lawyers. Remember, they are doing their job, and should not be criticised. They are however benefitting from the fights that owners corporations love to find.

Before you bounce into court, get independent advice from a person who is not benefitting from the action. Ask the real questions about a real result.

It is worth noting that, there is no profit in principles.